Best Buy was represented in the transaction by Mindy Lissner ofCB Richard Ellis' East Brunswick office, along with David Brown ofthe Minneapolis office. Best Buy is based in the latter city.Landlord Morris Cos., Rutherford, was represented by brokers fromNewmark Knight Frank. Terms of the deal were not released; thespace had been listed with an asking price of $6.75 per sf.


Best Buy joins US Foodservice on-site, with the fooddistribution giant having signed on for 452,000 sf at the center'sBuildingI in November. In that instance, the tenant was representedby Lissner and CBRE colleagues Bill Waxman, Nicholas Nitti andChris Reynolds.


"New Jersey's industrial market, while facing some challenges,is still one of the strongest in the nation because of itsproximity to the extensive surrounding consumer zone and theincreased activity around the ports," Waxman says. Developer MorrisCos. started actual construction on the project in mid-2006 on aspeculativebasis. Amboy Corporate Center is rising on 64 acres as aredevelopment of Chevron asphalt refinery surplus properties. It'salso part of the state's public/private PortfieldsInitiative, an effort driven by the New Jersey EDA and thePort Authority of NY/NJ aimed at getting more W/D space near thestate's ports and Newark Liberty International Airport.

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